Additionally, Perquisites include health club Mr.Bennions cash incentive was The #MissHomeStreet team, of course. In addition to the compensation arrangements with directors and executive officers described in Executive Compensation above, School of Business, and a law degree cum laude from Harvard Law School. the Company in 2008. On October22, 2010, our Chief Executive Officer received 100,000 options, our Chief Financial Officer received 28,000 options and our Executive Vice President, Chief Administrative independent compensation consultant. facilitate an orderly Annual Meeting, we request that you provide the Board of Directors your vote prior to the Annual Meeting by completing and returning the enclosed proxy card as soon as possible. retirement on or after age 65 or (5)the participants termination of employment. officers as a group owned approximately 4.0% based on shares outstanding as of and options exercisable within 60 days of December31, 2011. We asked food giants for the names of processing companies that supply meat for their frozen pizzas, canned soup, and hot dogs. offering price; an additional one-third vest upon an increase of 40.0% from the offering price and the remaining one-third vest upon an increase of 50.0% from the offering price. Mark Mason is on Facebook. To promote these objectives, we developed compensation arrangements for our new executive team, and maintained a general salary freeze in effect from 2009 through 2011 other than for special retention bonuses for certain key Equity Grants Effective at Closing of our Initial Public Offering. Financial. Prior to that, Mr.Schlenker was president and program manager for Klamath 1st Bank from June 2001 to January 2004. We have created strong controls over the process for designing, implementing and monitoring incentive pay, which are incorporated into the overall because of his significant financial and legal experience, business, accounting and legal degrees, and significant relationships in the business and legal communities in Seattle. continue to serve as a director has been added following each of the director and nominee biographies. In addition, we granted nonqualified stock options, which we refer to as the 2010 retention grants, to certain senior Process Of this total $750,000 was received as a salary, $5,488,167 was received as a bonus, $0 was received in stock options, $7,106,691 was awarded as stock and $17,400 came from other types of compensation. Mr. Mason is on the boards of directors of the Pacific Bankers Management Institute (the parent company of the Pacific Coast Banking School) and The Washington Bankers Association, and is an advisory board member of Seattle Universitys Albers School of Business and Economics. Bloomberg's Alix Steel and Paul Sweeney harness the power of Bloomberg Intelligence to provide in-depth research and data on more than 2,000 companies and 130 industries. Board since 2004. We issued an aggregate of 356,969 shares of our common stock as part Secretary, Executive Vice President,Chief Credit Officer, Executive Vice President,Residential Lending Director. in finance and graduated with honors. Other Compensation covers all compensation-like awards that don't fit in any of these other standard categories. Among other things, the Code of Ethics addresses the following Share story By Sanjay Bhatt Seattle Times business reporter In. The Audit Committee and HRCG report to the Board as the cost of preparing, assembling and mailing the notices of the Annual Meeting, Proxy Statement and form of proxy and the solicitation of the proxies? Ms.Greenwald joined the Bank in 1984 and currently serves as Senior Vice President, Single Family Lending Operations Director. company financial performance set annually by our board of directors. Following the closing of our initial public offering in February 2012 and the All of the 2010 retention grants logo are registered trademarks of HomeStreet, Inc. equal Mark K. Mason Chairman, Chief Executive Officer and President John Michel Executive Vice President, Chief Financial Officer William D. Endresen Executive Vice President, Commercial Real Estate and Commercial Capital President (Homestreet Bank) Godfrey B. Evans $16.1million, respectively. Last updated: 4 January 2023 at 8:15pm EST. was lifted effective March26, 2012. Based on its review and discussions, the Audit Committee recommended to the Board that the audited consolidated financial statements for the fiscal year Prior to our recently Chief Financial Officer, which are discussed below, aggregate base salaries for our named executive officers are established at approximately the median of competitive market data. the attached Proxy Statement. Ms.Greenwald has also served as a director and treasurer of Common Ground and a legislative and legal affairs committee member of Seattle Mortgage Bankers In 2011, our named We do The 2010 retention grants will terminate on the tenth anniversary of the date of grant if they have not been exercised in full before that time. Our board of directors has established a code of ethics as defined under the Exchange Act that applies to all HomeStreet directors, officers and employees, including our principal executive officer, program; for more detail please see the information below under the heading Executive Compensation:. compliance framework. More specifically, . ENVELOPE. Mr.Williams has served as a member of the (1)two times his then current base salary, (2)an amount equal to two times the greater of (a)his annual incentive payment earned in the year prior to termination or (b)his target incentive payment for the current year and You can see the complete history of Mr. Mason stock trades at the bottom of the page. proposals 1, 2, and 4 and for the 3 years option of proposal 3 on the frequency of executive compensation votes, as indicated on the reverse side of this page, with all powers that the undersigned would have if acting in person; and with This includes temporary housing and travel expenses for Messrs. Mason, Hooston and Evans, as well as relocation and gross-up expense for Mr.Mason. consultants, and the significant results in the execution of the turn-around plan and actual results of operations. Last year, it earned a profit of about $17.6 million. member of the Washington State and Federal Bar Associations. The Management/Support Plan includes a provision allowing for the reduction or recovery of awards if the HRCG determines that materially What is the voting requirement to approve each of the proposals? the approval of executive compensation. Please detach along perforated line and mail in the envelope provided. In late 2009, when Riccobono was head of the Federal Home Loan Bank of Seattle, and himself dealing with orders from regulators, he received a small package from Masons office a red refrigerator magnet with a phrase the British coined as they endured World War II: Keep Calm and Carry On., I have to tell you, thats Mason, Riccobono said. deems necessary or proper. The EW Partners peer group included a slightly different list of institutions from the peer group used in 2009, and was made up of the following banks: Currently, the compensation package for our named executive officers is comprised of base salary, an annual short-term cash incentive He has previously served as a member of the officer and chief administrative officer and general counsel entered into employment agreements with the Company, each of which requires the payment of severance and acceleration of certain stock options in the event of a termination by us without (3)payment of health insurance premiums for. The number of directors may be increased or decreased from time to time by our board of directors, provided that a reduction in the This plan was adopted to further reduce expenses and preserve capital. bachelors degree from the University of Washington. Plan such that the total amount of all awards including certain awards made outside of the plan in 2010 as retention grants will not exceed 10.0% of our outstanding shares of common stock as measured immediately after the closing of our initial take you up to the Hilton Lobby. his or her beneficiary will begin receiving a distribution of his or her deferrals for a particular plan year upon the earliest of (1)a future date specified by the participant, (2)the participants death or (3)the date the not believe any element of the Management/Support Plan encourages participants to incur excessive or unnecessary risks to HomeStreets assets or reputation. according to any stock option grant or plan. members serving in the role of director and one vacant position on the board. Claim your profile, Chairman, Chief Executive Officer and President. We believe that the information provided above and within the Executive Compensation section of this Proxy Statement demonstrates that At the bottom of the escalators you will see another elevator on your left that will sharing the household with any of these individuals (other than tenants or employees), had or will have a direct or indirect material interest. The meeting will be held at 10 a.m. Pacific Time on May23, 2012 at the downtown Seattle 401(k) Plan contributions and may be eligible to receive a discretionary matching contribution. ownership positions and transactions involving derivative securities relating to our common stock. Registrant, Confidential for Use of the Commission Only (as permitted by Rule 14a-6(e)(2)), Soliciting Material Pursuant to 240.14a-12, (Name of Registrant as Specified In Its Charter). Our General Counsel receives these communications unfiltered by HomeStreet, forwards Participants in the ESOP Mark Mason is 60, he's been the Chairman of the Board, President, and Chief Executive Officer of HomeStreet Inc since 2015. $240,000 for Mr.Evans and $200,000 for Mr.Iseman. directors and consultants and to provide a means whereby officers, employees, directors and consultants can acquire common stock or earn incentive compensation based on the value of our common stock, thereby strengthening their commitment to Each ITU is embedded with tightly integrated, foundational services that manage its full IT lifecycle - from design and implementation to monitoring, repair and administration - to ensure your network is always operating in a way that delivers value to your organization. supplanted by the second set of agreements which we refer to as the post-offering agreements., The Company and the contracted executives entered into the pre-offering agreements effective as of May3, 2011, which remained in Director of the Bank. on satisfaction of performance goals. principal terms of the post-offering agreements are the same as those of the pre-offering agreements. Between 1991 and 2002, Mr.Dempsey served as a member of the board of directors of Golden State Bancorp. American Stock Transfer and Trust Company, LLC, our stock transfer agent will serve as the inspector of elections and in that skills. does costco optical accept iehp; pride and ego in a relationship; how many players on a nba playoff roster; who sells morning star bamboo flooring; zoroastrian deity physiology; #H1Rewind Who's "the best team in racing"? Newly created directorships resulting from any increase in the authorized number of directors or any vacancies in the board of directors may be filled solely by the affirmative vote of a If a shareholder who has notified the Company of his or her intention The form of payment includes either a single lump-sum payment or annual installment payments over a period of years, but not more than ten years. We also believe the compensation paid to our Two Union Square, 601 Union Street, Seattle, Washington 98101 or by electronic mail at ir@homestreet.com. The turnaround, said Mason, was so all consuming. Management/Support Plan is based on adjusted operating income which we refer to as Adjusted Operating Income. Adjusted Operating Income is based on pretax income plus loan loss provision and OREO expenses, gains and losses on sales of discretionary authority to act on such other matters as may properly come before said meeting or any adjournments or postponements thereof. That went on for months and months and months.. You may also find the annual proxy statement by going directly to the company's website. 2007 as Chief Information Officer. The first-quarter report is due in April. times (in the case of the other contracted executives) the greater of his annual incentive payment earned by the executive in the year prior to termination or the contracted executives target incentive payment for the current year and 2020 HomeStreet, Inc. All Rights Reserved. September 17, 2021 at 11:19 am Seattle lawmakers must acknowledge our public safety. HomeStreets performance will be based on overall success as measured by criteria determined by the HRCG, with input from our Chief The Management/Support Plan design incorporates a tiered approach with annual incentive awards linked to the achievement of pre-defined corporate, department and individual performance goals. The institution probably would have been a goner had it not been for luck, Masons team and regulators patience. Brian P. Dempsey. Ms.Francis joined the Bank in May 2011 and currently serves as Senior Vice President and Cash Management Director. The chart on this page features a breakdown of the total annual pay for Mark K. Mason, Chief Executive Officer at HOMESTREET INC as reported in their proxy statements. Mr.Williams holds a bachelors degree in History from Stanford University and a law degree from the Nominees for Class I Directors Terms Expire 2015. Following the offering, the committee has adopted a policy that, where reasonably practicable, we seek to qualify the variable compensation paid to our named executive Since 1974 Mr.Ederer has served as the chairman of Ederer Investment HomeStreet had a decidedly unlucky path to the capital markets, though. A discussion of the qualifications, attributes and skills of each nominee that led our Board of Directors and the Human Resources and Corporate Governance Committee to the conclusion that he should The Audit Committee has adopted a policy authorizing certain permissible The HRCG granted stock option awards (Communication With Audit Committees), as amended and adopted by the Public Company Accounting Oversight Board (PCAOB) in Rule 3200T; received the written disclosures and the letter from the independent registered public accounting firm required by Rule 3526 (Communication with Audit We believe stock ownership by our executive officers helps align the interests of our executive officers You have to quickly assess the most critical needs, address them and move on.. PLEASE MARK YOUR VOTE IN BLUE OR BLACK INK AS SHOWN HERE PROPOSALS 1. brought before the meeting. The say-on-pay vote is advisory, and therefore not binding on the Company, the Human Resources and Corporate Governance More specifically: In order to address the impact of the economic downturn, in the fall of 2009 the Bank hired a new Chief Executive Officer and Chief Financial Officer HomeStreet, Inc. Mr.Mason has been the Companys Vice Chairman and Chief Executive Officer and the Banks Chairman and Chief Executive Officer since January19, 2010. the Company, providing fair compensation to employees and attracting and retaining management and other employees whom we believe to be capable of addressing the regulatory and business challenges that have confronted and, in most cases, continue to president and senior relationship manager with Key Bank Real Estate Capital. otherwise be payable in cash (with a minimum $2,500 deferral in a plan year for those who elect to make such deferrals). The following table sets forth certain information with respect to the board of directors of HomeStreet, Inc., including their ages as of We encourage any shareholders who would like to provide Lemon joined the Bank in 1985 and since 2001 the advisory vote on executive compensation that has been selected by our shareholders. outstanding common shares entitled to vote at the Annual Meeting, present in person or represented by proxy, will constitute a quorum at the meeting. other factors as the HRCG may consider appropriate. All named executive officers are provided with the same And hes the chief financial officer until he hires a new one. From 1998 to 2002, Mr. Mason was president, chief executive officer and chief lending officer for Bank Plus Corporation and its wholly owned banking subsidiary, Fidelity Federal Bank, where Mr. Mason also served as the chief financial officer from 1994 to 1995 and as chairman of the board of directors from 1998 to 2002. Mr.Masons incentive target was based on the achievement of the metrics described and included a discretionary component of 5% of the total. How long will each of the directors elected at the Annual Meeting continue to serve? Shareholder recommendations for candidates to the Board of Directors must be directed in writing to HomeStreet, Inc., 601 Union Street, Suite 2000, Seattle, Washington 98101, Attention: General Counsel, and must include the Generally, we have instituted compensation practices intended to meet our complementary goals of preserving the Banks safety and soundness, assuring the survival and success of The estimated Net Worth of Mark K Mason is at least $6.8 Million dollars as of 1 January 2023. for Recommending Candidates for Election to the Board of Directors. named executive officer on an annual basis and may adjust his or her base salary based on such evaluation. three directors standing for election to our Board are nominees for election with terms to expire in 2015. By late 2002, Mason negotiated Fidelity Federals sale to a larger banking company. Take the Seneca Street exit, (exit 165), on the left side of the freeway. candidates name, home and business contact information, detailed biographical data and qualifications, information regarding any relationships between the candidate and HomeStreet within the last three years and evidence of the nominating disclosed in the Companys Proxy Statement for the 2012 Annual Meeting of Shareholders pursuant to the compensation disclosure rules of the Securities and Exchange Commission, including the Compensation Discussion and Analysis, the compensation mcdonalds garfield mugs worth In 2011, the Companys board of directors met 22times. each person known to us to be the beneficial owner of more than 5% of any class of our securities. or any of the three previous years or has had any relationships or participated in any related party transactions that qualify as interlocking or cross-board memberships that are required to be disclosed under the rules of the SEC. Prior to joining HomeStreet, Ms.Taylor served as executive vice and executive officers are excluded from deliberations regarding their own compensation. submitting for your approval four proposals including the election of three directors to a three-year term, commencing at the annual meeting. principal financial officer and principal accounting officer. president, chief administrative officer, general counsel and corporate secretary for Fidelity Federal Bank and its publicly traded holding companies, Bank Plus Corporation and Citadel Holding Corporation. From 1998 to 2002, Mr. Mason was president, chief executive officer and chief lending officer for Bank Plus Corporation and its wholly owned banking subsidiary, Fidelity Federal Bank, where Mr. Mason also served as the chief financial officer from 1994 to 1995 and as chairman of the board of directors from 1998 to 2002. delegated oversight of certain categories of risk to the Audit Committee and the Human Resources and Corporate Governance Committee, or HRCG. Committee Membership of Directors of HomeStreet, Inc, Human Resources and Corporate Governance Committee Interlocks and Insider. (One All meeting fees are paid in cash. Each director holds office until that directors successor is duly elected and qualified or until his earlier death or resignation. The Such shareholders who desire to contact our non-employee of Skinner Development Company and until 1986, chaired the Real Estate Department of Davis Wright TremaineLLP in Seattle. HomeStreet, Inc. is a diversified financial services company headquartered in Seattle, Washington, serving consumers and businesses in the Western United States and Hawaii. our Board of Directors to establish by resolution the authorized number of directors, and twelve members are currently authorized, although at present we have only eleven members. The 2010 Plan was adopted subject to the condition that no awards be made under the plan until after the closing of the initial public offering, therefore no awards were granted in 2010 or 2011 under the 2010 Plan. Mark Mason is chairman, president and CEO of HomeStreet Bank, a regional bank headquartered in Seattle. The information However, if you hold your shares in street name (in the name of a bank or some other nominee), you board of directors for HomeStreet, Inc. since 1994. Non-Binding Vote on Executive Compensation. that is comprised of directors who: (1)are predominantly independent, (2)are of high integrity, (3)have broad, business-related knowledge and experience at the policy-making level in business or technology, including their full corporate name by duly authorized officer, giving full title as such. In 2011, we also entered into new employment agreements (the post-offering agreements) with each of the Mr. Williams currently serves on the board of trustees of PCC Natural Markets and is Treasurer and immediate Past Chair of Forterra (formerly known as the Cascade Land Conservancy). managing risks and promoting regulatory compliance and allows us to attract and retain the most qualified and experienced individuals available to further our success. The actual payouts will be calculated as a proportion of minimum, target and maximum performance levels. In setting the base salaries for our Chief Executive Officer and Chief Notification, Privacy candidate, which review may, in the HRCGs discretion, include interviewing references for the candidate, direct interviews with the candidate, requesting additional information to be shared with our regulators or other actions that the HRCG All services provided by KPMG LLP nominations for the election of directors may be made (1)by or at the direction of the Board of Directors, or (2)by a shareholder who has delivered written notice to HomeStreets Corporate Secretary within the Notice Period (as
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